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Asia stocks were mostly lower on Tuesday, tracking a retreat on Wall Street after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the central bank for a second term, reinforcing expectations the U.S. will taper its stimulus soon.

The South African rand hit a new 12-month low in early trade on Tuesday, as the dollar jumped on bets for quicker interest rate increases after U.S. President Joe Biden backed Federal Reserve Chair Jerome Powell for a second term.

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The New Zealand dollar fell to a near six-week low on Tuesday as its U.S. counterpart basked in the afterglow of Federal Reserve Chair Jerome Powell's renomination for a second term, with some betting a quicker track to the start of U.S. rate hikes.

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Shanghai zinc prices jumped 4.6% on Tuesday to their highest in nearly three weeks amid global supply concerns after miner and commodity trader Glencore floated plans to put its zinc sulphide operations in Italy on hold for maintenance.

Australian shares were set to open lower on Tuesday as warnings of tighter lockdown restrictions in Europe sparked fears of further coronavirus impacts on the recovery of the global economy.

China stocks rose on Tuesday after state media quoted the country's premier as saying Beijing should step up efforts to stabilise key economic areas, while real estate shares rebounded after some banks were told to issue more loans for property projects.

The dollar hit a new four-and-a-half-year top against the yen on Tuesday after Federal Reserve Chair Jerome Powell was renominated for a second term, reinforcing bets that U.S. interest rates would rise next year and diverge from Japan's.

The CDC Says “Don’t Wash Your Turkey” This Thanksgiving